Investor Peter Thiel— who stumped for President Donald Trump at the Republican National Convention and has remained close to the president — believes the era of globalization is over.

Trump's victory showed just how unhappy people are with globalization, he said.

"I'm naturally inclined to think of it in those terms," said Thiel. "There's something around globalization that's not been working that well."

Thiel's comments came Tuesday night at the CERAWeek by IHS Markit conference in Houston.

The movement of people and goods is becoming more difficult through immigration and trade restrictions, said Thiel. Western Europe and other places are tightening regulations, creating headwinds for global banks and tech companies, he added.